Further to the announcement of his intention to retire, made on December 1st 2017, the Chairman of Arla Foods amba, Åke Hantoft, has announced that he has agreed the sale of his dairy farm in Ösarp, Sweden. The sale will be completed on July 2nd 2018, at which time Åke will step down from his position as Chairman of Arla Foods amba with immediate effect.
The Board of Directors implemented its succession planning process for the appointment of a new Chairmanship at the time of Åke’s announcement last year to ensure a smooth transition of the Chairmanship, convening an Appointments Committee supported by the Non-Executive Director practice of international recruitment specialists Spencer Stuart.
The Arla Foods amba Board will finalize the appointment of its new Chairmanship in due time before July 2nd.
Commenting on the announcement, Åke Hantoft said:
“It has been one of the greatest honours of my professional life to lead the Arla Foods amba business and be part of its growth and development over the last seven years, for the benefit of its owners, employees and customers. I would like to thank the Board of Directors, all elected representatives and the management of the Company for their support and guidance and the incredible commitment they make personally to governing and managing this leading co-operative business. I look forward to watching the business go from strength to strength in the future.”
Åke Hantoft has been Chairman of Arla Foods amba since 2011.